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CZECHIA: Political Turmoil Continues, Final Q2 GDP Data Under Microscope

CZECHIA
EM BulletBulletGlobalEmerging Market NewsCentral and Eastern EuropeRegionCzechia
  • President Petr Pavel accepted Prime Minister Petr Fiala's request to dismiss Regional Development Minister Ivan Bartos, whose Pirate Party overwhelmingly approved the decision to leave the government in an internal referendum. The Pirates' parliamentary caucus will hold a meeting today and is expected to finalise the decision about leaving the ruling coalition.
  • South Moravia Governor Jan Grolich played down earlier reports suggesting that he could run for the position of KDU-CSL leader. The party's regional chapter in South Moravia endorsed Agriculture Minister Marek Vyborny as its candidate, although he is yet to confirm if he will contest the internal election.
  • The CZSO will release final Q2 GDP data at 08:00BST/09:00CEST. Consensus looks for 0.6% Y/Y growth, which would be in line with the CNB's summer forecast (+0.57%).
  • The latest S&P Global PMI survey (due 08:30BST/09:30CEST) is expected to show that Czech manufacturing remained in contraction in September. Headline index is expected to have worsened to 46.0 from 46.7 prior.
  • The Finance Ministry will report September budget balance at 13:00BST/14:00CEST. Separately, the Chamber of Deputies will today discuss the revised 2024 state budget, with deficit increased by CZK30bn to CZK282bn due to recent floods.
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  • President Petr Pavel accepted Prime Minister Petr Fiala's request to dismiss Regional Development Minister Ivan Bartos, whose Pirate Party overwhelmingly approved the decision to leave the government in an internal referendum. The Pirates' parliamentary caucus will hold a meeting today and is expected to finalise the decision about leaving the ruling coalition.
  • South Moravia Governor Jan Grolich played down earlier reports suggesting that he could run for the position of KDU-CSL leader. The party's regional chapter in South Moravia endorsed Agriculture Minister Marek Vyborny as its candidate, although he is yet to confirm if he will contest the internal election.
  • The CZSO will release final Q2 GDP data at 08:00BST/09:00CEST. Consensus looks for 0.6% Y/Y growth, which would be in line with the CNB's summer forecast (+0.57%).
  • The latest S&P Global PMI survey (due 08:30BST/09:30CEST) is expected to show that Czech manufacturing remained in contraction in September. Headline index is expected to have worsened to 46.0 from 46.7 prior.
  • The Finance Ministry will report September budget balance at 13:00BST/14:00CEST. Separately, the Chamber of Deputies will today discuss the revised 2024 state budget, with deficit increased by CZK30bn to CZK282bn due to recent floods.